Chpter, a Kenyan e-commerce startup, has secured $1.2 million in a pre-seed funding round. The company, co-founded by the team behind YC-backed Marketforce, plans to use the funds to enhance its technology stack and expand its operations into Egypt and Nigeria. Founded in 2022, Chpter aims to help businesses convert social media platforms into effective sales channels.
The platform offers tools for chat, order, and payment processing, charging a monthly subscription fee and a transaction fee for payments processed. Notable clients include insurer Britam, shoe store Kicks Kenya, and e-commerce platform Phoneplace. “We are investing in our tech stack to offer an end-to-end product, connecting APIs from social media platforms such as WhatsApp and Instagram with popular e-commerce and customer relationship management systems like Shopify and Woocommerce,” said Tesh Mbaabu, Chpter’s co-founder and CEO.
The funding round was led by Pani, an Africa-focused investment firm co-founded by former Cellulant CEO Ken Njoroge. Other participants included Plesion Capital, Techstars, Norrsken, Renew Capital, ViKtoria Ventures, and angel investors such as Nala founder and CEO Benjamin Fernandes and Workpay co-founders Paul Kimani and Jackson Kibigo.
Kenya startup scales conversational commerce
Despite being co-founded by members of Marketforce, Chpter operates independently. “Chpter was and is not under the MarketForce umbrella. It is going to continue operating independently.
However, MarketForce is a shareholder in it,” Mbaabu clarified in a May 2024 interview. The company’s acceptance into the Norrsken Accelerator in 2023 and Safaricom’s Spark Accelerator in May 2024 has solidified its position as a key player in conversational commerce. The Safaricom Spark Accelerator provided three months of training and mentorship to assist Chpter in scaling its operations.
This successful funding round and strategic mentorship underscore investor confidence in Chpter’s vision and growth potential in the rapidly evolving e-commerce landscape. The company currently operates in Kenya and South Africa and aims to expand its reach with the fresh capital.
- TechCabal.”Kenyan e-commerce startup Chpter raises $1.2 million in pre-seed round”.
- ImpactAlpha.”Kenya’s MarketForce founders help secure $1.2 million for new e-commerce venture”.
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